Oil Prices Edge Higher Ahead of OPEC+ Meeting, Vaccine Hopes | Investing News

SINGAPORE (Reuters) – Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine.

Brent crude futures for January

rose 16 cents, or 0.4%, to $43.98 a barrel by 0104 GMT and U.S. West Texas Intermediate crude for December

added 13 cents, or 0.3%, to $41.47 a barrel.

Equity markets rose on hopes of a quicker economic recovery after Moderna Inc

said its experimental COVID-19 vaccine was 94.5% effective in preventing infection based on interim late-state data. [nL1N2I2385] [nL1N2I20XR]

This comes after Pfizer Inc reported last week that its vaccine was more than 90% effective.

“If we judge economic recovery, particularly through the lens of oil markets… with multiple high efficacy vaccines in the pipeline, there is good chance mobility will return close to pre-pandemic levels later in

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Canadian home sales slip on month, prices edge up

Adds details, quotes

OTTAWA, Nov 16 (Reuters)Canadian home sales fell 0.7% in October from September, edging back from the previous month’s all-time record, while the national average selling price hit another record high, the Canadian Real Estate Association said on Monday.

The average home price in Canada hit C$607,250 ($463,939), up 0.5% on the month and 15.2% on the year, the industry group said. Actual sales, not seasonally adjusted, rose 32.1% from a year earlier

“Many Canadian housing markets continue to see historically strong levels of activity … over and above what would have been required to make up for the very quiet spring market,” said Costa Poulopoulos, chair of CREA, in a statement.

Sales activity was mixed across Canada’s major markets, with sales up in Montreal, Calgary and Edmonton, but down in the Toronto area, the Vancouver area and in Ottawa.


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